As you know, the labor market is very tight right now. As result, many managing agents are having difficulty attracting and retaining property management staff. In turn, we have seen a noticeable spike in compliance issues as simple compliance mistakes and/or the lack of proper staff training are producing painful (and sometimes costly) mistakes within the realm of regulatory compliance.
As you combat the staffing issues within your operation, here are three things to remember:
- Think About Training or Onboarding New Staff Differently If you are experiencing an increase in staff turnover, it may be necessary to rethink your approach to onboarding new employees to help ensure that they are prepared to assume their duties without dramatically increasing your compliance risks. Know that the OCCH Training Academy has built a new Learning Management System (LMS) that may be a critical resource to help you quickly and efficiently onboard a new employee or offer cost effective training opportunities for existing staff. Reach out to your OCCH Asset Manager to learn how you can register your new (or current!) employees on this training platform so they can take an online / on-demand Fair Housing course and also learn about the LIHTC program with the “Introduction to the Low Income Housing Tax Credit (LIHTC)” coursework.
- We are Here to Help We take great pride with the level of training and technical assistance we provide. Do you have a difficult situation with a question surrounding regulatory compliance and need a second opinion? Are you looking to update your policies and procedures and seeking advice related to industry wide best practices? Are you looking for guest speakers to present at your next management training? Remember, OCCH staff is available to provide training or technical support at little or no costs. We recognize that if you are successful in effectively training and supporting your staff, our collective risks are minimized. Don’t hesitate to reach out to us so we can explore the best way for us to engage with you to help ensure your success.
- Mistakes Happen – Let Us Know About It We understand that maintaining regulatory compliance is very difficult…especially in an environment where we are facing an increase in staff turnover. Recognizing the complexities of the LIHTC program, it is inevitable that mistakes will be made. Please remember that you have a duty and obligation to report issues to your OCCH Asset Manager. You should proactively contact your OCCH Asset Manager or disclose ‘reportable incidents’ as part of the monthly reporting process. File compliance issues, litigation, fires, insurance claims, instances of employee fraud or any other incident is required to be disclosed to OCCH in a timely manner. WE ALSO NEED TO BE MADE AWARE OF COMPLIANCE REVIEWS BY YOUR ALLOCATING AGENCY (OFHA, KHC, IHCDA, Etc.). As your partner, we will work with you to seek resolution to whatever issues you may face. Please know that withholding information from your Asset Manager is counterproductive.